GAMMA Investing LLC Acquires New Position in CVB Financial Corp. (NASDAQ:CVBF)

GAMMA Investing LLC acquired a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,038 shares of the financial services provider’s stock, valued at approximately $102,000.

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in CVB Financial by 262.7% during the 4th quarter. Federated Hermes Inc. now owns 47,677 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 34,531 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CVB Financial by 12.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,346 shares of the financial services provider’s stock valued at $734,000 after buying an additional 3,992 shares during the period. Everence Capital Management Inc. grew its stake in shares of CVB Financial by 36.7% in the 4th quarter. Everence Capital Management Inc. now owns 21,560 shares of the financial services provider’s stock valued at $435,000 after buying an additional 5,790 shares during the period. Strs Ohio purchased a new stake in shares of CVB Financial in the 4th quarter valued at approximately $36,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of CVB Financial in the 4th quarter valued at approximately $1,337,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.2 %

CVB Financial stock opened at $16.48 on Monday. The firm has a market cap of $2.30 billion, a PE ratio of 10.84 and a beta of 0.46. CVB Financial Corp. has a 52-week low of $10.66 and a 52-week high of $21.77. The company’s 50 day moving average is $16.98 and its two-hundred day moving average is $17.71.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, equities research analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVBF. Wedbush reissued a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a research note on Thursday. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research note on Monday, April 22nd. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods decreased their price objective on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Stephens restated an “equal weight” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

Insiders Place Their Bets

In other news, CEO David A. Brager acquired 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO David A. Brager acquired 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George A. Borba, Jr. acquired 59,601 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders have acquired a total of 63,601 shares of company stock worth $1,067,145 in the last ninety days. 6.00% of the stock is owned by corporate insiders.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.